The dawn of a new and sportier Nike is imminent, the sportswear giant's new leader says. Nike CEO Elliott Hill, who took the helm in October, outlined plans to revamp the sneaker giant in a Thursday earnings call, where he promised investors that the ...

Nike's new CEO Elliott Hill warned of a long road to sales recovery for the sportswear giant, but the veteran executive's plan to turn the spotlight on sports like basketball and running, allayed some investor worries.

Nike offered a muted forecast on Thursday, reversing gains in its shares made earlier in the day after the embattled sportswear seller's quarterly results beat estimates.

Several analysts lowered their price targets for Nike's stock Friday, concerned its turnaround could take longer than expected after the athletic apparel giant offered a sluggish outlook.

After its quarterly results beat Wall Street expectations the apparel maker's new chief, Elliott Hill, said a rebound would require fundamental changes in strategy.